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'Rotten Core of Banking' Exposed: Global Outrage Follows HSBC Revelations


#1


#2

The Oilagarchy and Banksters use their elected (and bought) tools
To make the rules
That fills their pockets with gules
Taken from the rest of us poor fools.

For them It's CYA
All the way!
;-})


#3

These filthy banks rule. As Georgi Dmitrov, who successfully defended himself in a Nazi court against accusation of arson in the famous Reichstag fire described, fascism is “the open terrorist dictatorship of the most reactionary, most chauvinistic and most imperialist elements of finance capital.”


#4

The Obama administration has done nothing about this. Oh, they give excuses thaqt it would be too upsetting to the system to prosecute, too big to jail but the truth is that all the hundreds of millions that Wall Street put into the Obama campaign accounts for its silence. Obama is a bought off crook, joining the ranks of those he protects. Ditto Eric Holder. And most of all ditto for the inevitable Democratic Candidate for President, Hillary, $200,000 a speach, Clinton. How can such a puppet of Wall Street enjoy such huge majorities? Hillary is cooly triangulating, thinking that her Wall Street association will not hurt her. For all you Hillary fans, you'll get the same kind of lying and betrayal from her that you got from Obama. But that won't stop you from believing will it. Yes we can--be duped again.


#5

"any bank that helped an American citizen to evade taxes was guilty of a felony."
What then, do they do to banks found guilty?


#6

I find it interesting that public disclosure of this evidence appears to have been held back until republicans had a majority in both Houses of Congress.

mcp


#7

"Under U.S. law, any bank that does that, that assists a U.S. person in evading U.S. tax is guilty of a felony. And it doesn't matter where the bank is located or where the bankers are located."

And have the ongoing flagrant law-breaking tactics by banks, investment companies, and insurance companies been curtailed in any way? Obviously not.

I was an investment counselor for "the largest bank in the Rocky Mountain States" that was bought out by Bank One of Colulmbus, OH. Banking was VERY different during Glass-Steagal and federal and state oversight were vigilant. Banks' investment departments could only act as principal on new issue municipal bonds, treasury bills/bonds/note, government agency issues (Banks for Coops, etc.), commercial paper (short term, mid-to-high risk, high interest return) and as agent on stock trades requested by customers (trades were made usually through the former E F Hutton or Merrill Lynch). Even the thought of dealing in CDI's or bundling mortgages for trade or issuing mortgages that posed high risks to marginally qualified buyers was abhorrent and absolutely illegal. S & P and Moody's ratings were reputable and dependable. The primary purpose of the bank was to provide a safe, secure place for personal and commercial customers and loans at non-usurious rates for borrowers. Profit was made through fees and interest collected.

My how the worm has turned. The clarion call (screams and shouts) by the banks and financial firms for deregulation resulted in their vile wishes being granted to the detriment of the average customer/depositor. Meanwhile the top 1% grows its wealth at unprecedented rates...putting shame to the Robber Barons of the Gilded Age.


#8

"Corporations are people too, my friend."


#9

Yes, Jaded Prole, as you pointed out with regard to Dmitrov's defense against the Nazi Empire, the "most imperialist elements (are) finance capital".

The financial-sector of all modern Empires tends to be the leading sector, with the corporate, militarist, extra-legal, and media sectors of the Empire facilitating, protecting, skirting laws, and propagandizing for the financial/banking-sector --- as Gen Smedley Butler knew and voiced in saying that his forces were gangsters for the Wall Street and financial/banking.

The banking/financial-sector of this current Disguised Global Capitalist Empire 'posing' as and HQed in our former country also provides services to the local elites in each territory or former country captured and absorbed into this vastly expanded Global Empire --- and one of the most favored services is to extract and protect personally looted wealth for wealthy individuals (as well as transnational sovereign wealth toward secret and secure locations to avoid any tax liability and most importantly to avoid at all costs any 'wealth-reform' (or 'claw-back', nationalization, expropriation, et al. of profits gleaned from the extraction, looting, hording, and monopolization of common wealth which the Disguised Global Capitalist Empire is designed to prevent).

However, the threat of "Wealth-Reform" (like the Land Reform successfully used in many countries to free-up a capitalist elites'; looted, horded, monopolized and taken-out of productive economic use of the asset-class of land) can, and should, also be successfully used when the concentration of wealth and capital is removed as an asset class form the needs and productive use of too much wealth being; horded, extracted, monopolized, and removed for the productive social economy of any country or areas of our world.

Yes, of course, a "massive downward redistribution" ---
which can only be done with 'Capital/Wealth Reform', akin to the oft
successful 'Land Reforms' employed in many countries to redistribute
the; looted, horded, monopolized, and taken-out-of production land asset
--- but with the asset class of wealth/capital that is today being
looted, horded, monopolize/privatized, and kept out of productive use
today on a global basis.In comparison to Obama's ploys and scams
of tax reform, nothing done by merely tweaking the personal income,
unearned income, and corporate taxes can realistically solve this
massive problem, except direct 'wealth reform' --- which even when
whispered throws stark fear in the minds of the 0.1%.

But beyond finance and private/capitalist economics, on an even greater complete
'social scale', we must totally reverse the whole of what
Karl Polanyi properly diagnosed and wrote of as "The Great
Transformation" --- which must be reformed as a Great Reformation, or
Great Turning (as David Korten has written of extensively).

Thirdly, of course it is essential to energize the people to understand, expose,
publicly call-out, and confront this Global Empire as the singular
enemy of human progress and even continuation --- much as early American
colonists being oppressed in many ways; politically, economically,
militarily, through extra-legal judicial structure, and through
media/mind influence of the British EMPIRE came to clearly understand
that all roads to serfdom led to the EMPIRE --- and that it was the
focal point of their mutual efforts in the Revolution.

Since I wrote the above comment on "Wealth Reform" (which I became
convinced is necessary several years ago), there has been a plethora of
MSM reported events which more openly prove that the Global Empire's
wealthy elite (which William Robinson calls TCCs, the Transnational Capitalist Class)
have been showing their abject FEAR of "Wealth Reform" --- and are
desperately trying to hide their capitalist 'looted' wealth:

No less than the Old Gray media whore, NYT, has a cover article and
research project critiquing the massive attempt to rush to hide and
protect ill-gotten wealth in high-end NY uber real estate assets from
any 'wealth-reform' efforts that may come up in the native country of
such elite 'Empire-thinking' global looters. In factr, one Chinese
billionaire buyer in quoted in the Times as saying, "at least they can't
get at my wealth here4 in New York, USA".

Also of recent news is the 'land-office business" (albeit illegal) that HSBC's UHNWI's (Ultra
High Net Worth Individuals) are using to escape both domestic taxes in
their nominal country and possible Wealth Reform extraction,
'claw-back'. and leveling by any country with the power and legal system
to do so.

BTW, I wrote an article in OEN (Op Ed News) more than a year ago
about the advantages that the people of the US would be able to
'bring to bear' when/if they turn this DGE HQ of the Empire back into a
truly free and functioning democracy of, by, and for the people and
with all the powers of the US super-power at the disposal of the people
to right various wrongs of the EMPIRE.


#10

Thank you for your sagacious compliment! I admire your concern for others and the world.

Empire: Evil - manipulative - pillaging -importuners - raiding/raping - Earth.


#11

Talk about Moral Hazard LOL! Oh wait a minute I forgot that term only refers to "little people."


#12

Nothing personal folks,... it's just about the money.


#13

As a child I never thought I would live to see a violent class/wealth revolution. It seemed to me to be inconceivable but since it appears that nothing will ever be done to prosecute all of the wrong-doing perpetrated by the plutocracy I feel now that it is inevitable.


#14

Now is an extremely beautiful moment for Greece to step up loudly, and absolutely demand that EU stop with their financial gaming, and do whats necessary for those countries who were taken to the cleaners by these same banksters. If not, revolutions most certainly are in the wind. You can already smell some smoke! The US Attorney's General is probably complicit with the Supreme Court, and the multinational banking heads in refraining from any legal action, as they're all good buddies in the crimes!


#15

"Sapiens- A Brief History of Humankind" I heard about it on NPR today... the author, Harari was being interviewed.... very interesting... the main thing that got me excited... ( didn't agree with all he said,) was about how humans and chimps are different... he was talking about how humans have the ability to agree on
the meaning of symbols, whose belief in a religion and story telling, was what propelled us forward... for good and evil... (my words) .... he ends with talking about how humans may "evolve" into another species altogether... ... I have had similar thoughts.. .but I came up with the a split in human evolution... one, advances as he proposes... bio engineered to be superhumans.... but I think another branch will develop...one based on a very earthy orientation... developing the qualities of empathy, compassion and collaboration... to the point of not needing technology to say, communicate... or not needing it in the same way.... we will develop in sync with nature.... and not against or inspite of it...


#16

The Obama Administration has done plenty about this! Plenty for at least two of them to be tried on solid grounds for treason! Obama and Holder have consistently and repeatedly conspired to prevent those banking felons from being brought to justice! The US Senate should be asking Lynch what is her plan to bring justice to every one of them concerned, felon bankers and treasonous Administrators alike.

Okay, Senators Brown, Warren, Merkley, et. al. This is a bold opportunity waiting for a leader to step up for American against the criminal banking casino cabals. This is an opportunity to let the nation and the whold world see the difference between the conspiring felons and traitors, and the elected officials who love this country to risk some protracted rhetorical scraps.


#17

"It’s like a criminal syndicate" said James Henry.

"It’s a criminal syndicate" said James Henry.

There, fixed that remark.


#18

HONG KONG; SHANGHAI; BANKING CRIMINALS.

That is what the acronym HSBC really means>


#19

Rotten to the core, this is nothing. If you want to really get to the bottom of 911, think of it less of a terrorist event and more as a "Financial Crime".. if you look at it from that perspective, the you will understand that the implications are huge and the enigma of 911 makes more sense. Every once an awhile they simply cannot " stuff down" the leviathan that is the corrupt world banking system.
I say , take the red pill and find out how deep the rabbit hole goes, you have yet to reveal the real magnitude of this mess.
It has both historic and "epic" proportions!


#20

To say that is not to understand what happened to JFK, he tried that and they assassinated him, in fact all "Presidents" who had the audacity to "tamper" with the financial /banking system either ended up dead or they tried as in the case of " Old Hickory".
So knowing this what do you think would happen to Obama? Right.. So the next question, do you think Obama is not fully aware of this? So that follows, why is he not doing anything? I think because he values his family and his life, normal thing fro any sane person to do.